GROSS DOMESTIC PRODUCT OF REPUBLIC OF SRPSKA

In Republic of Srpska (RS), there were in 2008 a significant increase in gross domestic product (GDP), the real growth rate was 6.2%, while the global economic crisis led to a decline in the growth rate to 2.8% in the year of 2009. In 2010 and 2011 there was a gradual recovery of the RS economy, the growth rate was 0.8%, while a negative rate of GDP was recorded by -1.0% in 2012. The nominal value of gross domestic product in Republic of Srpska amounted to KM 8.76 billion, the GDP per capita 146 KM. The economic output had shrunk in Q2 and Q3 of 2014 respectively to -1% and 0.1% respectively, while in the Q1 and Q4 of 2014 amounted 0.5% and 1.4%.

Source: Institute of Statistics of Republic of Srpska

Source: Institute of Statistic of Republic of Srpska

In the GDP structure for 2013, the trade sector had the highest participation with 12.1%, followed by agriculture, hunting and forestry (10.4%), while the share of manufacturing in GDP in 2014 was at 8.7%.

Source: Institute of Statistics of Republc of Srpska

Source: Institute of Statistics of Republic of Srpska

INFLATION IN REPUBLIC OF SRPSKA

In 2014, the average inflation rate or deflation was 1.2%, while, in the previous year that percentage has been at 0%. The inflation rate in Bosnia and Herzegovina amounted to -0.1% in 2013. In 2014 the neighboring countries also recorded deflation, with the exception of Serbia, where consumer prices rose by 2.9%. The average inflation rate in Croatia in 2014 was -0.2%, -0.7% in Montenegro, while that percentage lay in the EU at 0.5% and in Slovenia at 0.2%.

Source: Institute of Statistics of Republic of Srpska

AVERAGE NET INCOME IN REPUBLIC OF SRPSKA

The average wage (net) in the last five years in Republic of Srpska was 809 KM and in this period it increased by 1,052% – from 784 KM in 2010 to 825 KM in 2014.

In 2014 in Bosnia and Herzegovina average wages were in the amount of 830 BAM (during the first half of 2014 821 BAM and 839 BAM in the second half)

Source: Institute of Statistics of Republic of Srpska/Agency for Statistics BiH

EDUCATIONAL STRUCTURE OF THE LABOR FORCE IN REPUBLIC OF SRPSKA

The educational structure of the labor force in Republic of Srpska in september 2014 is as follows:

University degree 23.2%,

Two year college degree 4.9%,

High school degree 43.7%.

Source: Institute of Statistics of Republic of Srpska

FOREIGN TRADE OF REPUBLIC OF SRPSKA

The foreign trade volume of Republic of Srpska in the period from 2010 to 2014 grew at an annual average rate of 8.14%. The year 2014 recorded an increase in foreign trade volume by 7% compared to 2013. In the period from 2010 to 2014, the imports increased from 4 to 4.95 billion KM or 22%. Exports rose in the same period by 1.2 times, from 2.17 to 2.69 billion KM or 23.7%. The import coverage during the period increased slightly, from 53.7% to 54.5%.

Source: Institute of Statistics of Republic of Srpska

Source: Institute of Statistics of Republic of Srpska

The most important export market for Republic of Srpska is the EU, where goods were marketed with a total value of 1.9 billion KM or 70.9% of total exports in 2014. The imports from the EU account for 40.3% of total imports of Republic of Srpska. The main export goods are artificial corundum, electricity, processed wood, shoe parts, furniture (parts), petroleum … The main imported goods are oil and oil products, medicines, shoe parts, corn, ironware …